Fuel Scarcity Looms as Petrol Marketers Warn of Irregular Supply Across Nigeria, Give Reasons
- Petrol marketers warned that Nigerians might face irregular fuel supply due to rising petrol prices, heavy bank debts and other factors
- They said higher import costs and shrinking profits were forcing some marketers to ration purchases or combine resources
- The situation was worsened by rising global oil prices, already reflected in higher pump prices now around, with fears they could climb further
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Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.
Independent petrol marketers have warned Nigerians to prepare for irregular fuel supply in the coming weeks.
They say rising petrol prices and heavy bank debts are putting serious pressure on their businesses.
Because petrol now costs more to import, marketers need much more money to buy fuel. At the same time, banks are tightening lending, making it harder to get loans.
Source: UGC
As a result, many filling stations are struggling to keep enough fuel in stock, and some have started buying less than before.
Marketers warn that if nothing is done quickly, motorists may face long queues and fuel scarcity across the country.
Speaking on the issue, the National Public Relations Officer of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr. Chukwudi Akadike, said Nigerians should expect irregular fuel supply.
He explained that marketers are now borrowing heavily from banks because it takes more naira to buy smaller volumes of fuel. According to him, even a N10 increase is serious in a business that depends on selling large volumes.
He added that the recent rise in petrol prices is hurting both demand and the ability of marketers to raise working capital. While pump prices are higher, profits are shrinking, fuel consumption is slowing, and many operators are struggling to survive.
Marketers worried by rising costs of petrol
According to The Sun, the marketers claim the cost of restocking fuel has changed how they operate.
Akadike noted that buying a single truckload of petrol now requires a much larger amount of money, forcing some operators to combine funds just to keep their stations running.
Akadike said:
“The purchasing power is high. Now, it takes so much Naira to be able to buy 45,000, 40,000 litres of petroleum product. The volume of money now has also increased.
“Definitely, it is impacting our businesses. And most of the people are running out of capital. Even to make up this money now to buy products is going to be a little bit difficult.
"And some people are even combining. Just to make sure that the business is moving. And we are serving Nigerians better.”
Global crude oil price pressure is mounting
The situation is made worse by rising global oil prices. Crude oil is now selling at about $70 per barrel, pushed up by global tensions, including threats of military action involving Iran, restrictions on Russian oil, and steady demand from China. Analysts believe these factors could keep oil prices high.
For Nigeria, this means petrol prices could rise even further. Marketers have warned that pump prices may reach as high as N1,000 per litre if crude oil prices continue to increase and other costs remain high.
Source: UGC
Already, prices have gone up. Dangote Petroleum Refinery recently increased its petrol price from N699 to N799 per litre. After that, MRS Oil stations supplied by the refinery raised pump prices to N839 per litre, ending the earlier holiday discounts.
Soon after, NNPC Limited also adjusted its prices to N839 per litre in Abuja and N835 per litre in Lagos.
Nigeria earns N55.5tn from crude oil sales in 2025
In related news, Legit.ng earlier reported that Nigeria generated an estimated N55.5 trillion from crude oil sales in 2025.
The estimate was based on official production figures from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and crude price data published by the Central Bank of Nigeria (CBN).
The estimate represented an increase from the N50.88 trillion recorded in 2024, reflecting higher crude output and relatively supportive oil prices during the year.
Proofreading by Funmilayo Aremu, copy editor at Legit.ng.
Source: Legit.ng
